The Electricity Ministry plans to carry out USD 4 bn worth of hydroelectric power projects in partnership with the private sector unnamed government sources said.
Singapore’s Trafigura and Switzerland’s Vitol and Glencore have won a tender to provide Egypt with five shipments of LNG through August and September. The government secured the shipments at “favorable prices,” which can be paid back under a deferred payment plan. The government will launch new LNG tenders every three months or so, based on the energy sector’s needs.
The bourse is considering launching an index for companies that are temporarily listed on the EGX, bourse head Ahmed El Sheikh said. El Sheikh expects 2-3 companies to temporarily list on the EGX this year — the bourse is currently studying the prospect of listing 11 new companies — eight on the EGX and three on the NileX.
The Fed held rates steady following its two-day meeting, in line with expectations, but Chair Jerome Powell set the stage for a September rate cut, saying it is on the table if inflation continues its downward trajectory and growth remains strong.
ESRS has recently advocated for stronger import protection measures to defend the domestic sector against the challenges posed by lower-priced metal imports, which have been eroding the competitive edge of Egyptian-produced metals. To counteract these threats, the proposed measures include the introduction of import tariffs and the enforcement of stricter regulations to foster fair competition.
ORAS will distribute its cash dividend of USD0.20/share (EGP9.6944/share) for FY23, approved earlier in May, on 21 August 2024. Record date is 14 August 2024.
India-based fertilizers manufacturer Ostwal Group of Industries is looking into setting up a USD300 million fertilizers factory in Egypt, according to a statement. The factory aims to produce over 700k tons of fertilizers a year and plans to export to markets in the Middle East, Africa, and Europe, as well as the Indian market.
Eni is planning to dig new wells in Zohr during 4Q24 to increase nstural gas production gradually during 1H25.
A Chinese company is planning to establish a factory for producing titanium dioxide with a production capacity of 30k tons in its first phase. The project will use raw materials sourced from Egypt.
MASR and ZMID preliminarily approved co-developing a 41.9 feddan land plot in New Heliopolis. We remind you that ZMID had acquired land in New Heliopolis in the past few years.
CNFN plans to have its insurance consultancy company kick off operations in 4Q24, after receiving the final license approvals from the FRA. Moreover, the company’s digital consumer finance arm, Contact Credit, will kick off its Dubai operations on 9 September to serve Egyptians abroad and GCC nationals with Egyptian residencies. The company plans to offer EGP-denominated financing for various services in Egypt, including car purchases and education. CNFN is also eyeing expansion into Saudi Arabia and European markets to cater to Egyptian expats.
ACTF shares rose 29.7% on their first day of trading on the EGX yesterday to close at EGP 3.76, up from their initial price of EGP 2.90.
Banque Misr and Visa will work together to support startups enrolled in the bank’s Teqdar accelerator program under a newly-inked MoU.
Misr Insurance Company will start collecting insurance premiums through e-payment platforms provided by e-payments firm Damen, under a cooperation protocol inked between the two sides.
The Electricity Ministry plans to carry out USD 4 bn worth of hydroelectric power projects in partnership with the private sector unnamed government sources said.
Singapore’s Trafigura and Switzerland’s Vitol and Glencore have won a tender to provide Egypt with five shipments of LNG through August and September. The government secured the shipments at “favorable prices,” which can be paid back under a deferred payment plan. The government will launch new LNG tenders every three months or so, based on the energy sector’s needs.
The bourse is considering launching an index for companies that are temporarily listed on the EGX, bourse head Ahmed El Sheikh said. El Sheikh expects 2-3 companies to temporarily list on the EGX this year — the bourse is currently studying the prospect of listing 11 new companies — eight on the EGX and three on the NileX.
The Fed held rates steady following its two-day meeting, in line with expectations, but Chair Jerome Powell set the stage for a September rate cut, saying it is on the table if inflation continues its downward trajectory and growth remains strong.
ESRS has recently advocated for stronger import protection measures to defend the domestic sector against the challenges posed by lower-priced metal imports, which have been eroding the competitive edge of Egyptian-produced metals. To counteract these threats, the proposed measures include the introduction of import tariffs and the enforcement of stricter regulations to foster fair competition.
ORAS will distribute its cash dividend of USD0.20/share (EGP9.6944/share) for FY23, approved earlier in May, on 21 August 2024. Record date is 14 August 2024.
India-based fertilizers manufacturer Ostwal Group of Industries is looking into setting up a USD300 million fertilizers factory in Egypt, according to a statement. The factory aims to produce over 700k tons of fertilizers a year and plans to export to markets in the Middle East, Africa, and Europe, as well as the Indian market.
Eni is planning to dig new wells in Zohr during 4Q24 to increase nstural gas production gradually during 1H25.
A Chinese company is planning to establish a factory for producing titanium dioxide with a production capacity of 30k tons in its first phase. The project will use raw materials sourced from Egypt.
MASR and ZMID preliminarily approved co-developing a 41.9 feddan land plot in New Heliopolis. We remind you that ZMID had acquired land in New Heliopolis in the past few years.
CNFN plans to have its insurance consultancy company kick off operations in 4Q24, after receiving the final license approvals from the FRA. Moreover, the company’s digital consumer finance arm, Contact Credit, will kick off its Dubai operations on 9 September to serve Egyptians abroad and GCC nationals with Egyptian residencies. The company plans to offer EGP-denominated financing for various services in Egypt, including car purchases and education. CNFN is also eyeing expansion into Saudi Arabia and European markets to cater to Egyptian expats.
ACTF shares rose 29.7% on their first day of trading on the EGX yesterday to close at EGP 3.76, up from their initial price of EGP 2.90.
Banque Misr and Visa will work together to support startups enrolled in the bank’s Teqdar accelerator program under a newly-inked MoU.
Misr Insurance Company will start collecting insurance premiums through e-payment platforms provided by e-payments firm Damen, under a cooperation protocol inked between the two sides.